Radikal schreef op 6 november 2019 06:06:
FuelCell Energy Announces End of Engagement with Huron Based on Progress
Nov 05, 2019
Download this Press ReleasePDF Format (opens in new window)
DANBURY, Conn., Nov. 05, 2019 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, today announced that based on the progress made by the Company, the Board ended the engagement with Huron and the restructuring services being provided effective October 31, 2019. Beginning on June 2, 2019, Huron provided various services related to the Company’s restructuring and contingency planning initiatives. The Board’s decision was based on the outcome of many actions undertaken by Huron at the direction of the Board that led to the Company’s successful restructuring, including the right sizing of the business, implementation of cost control measures, and pay off of substantial corporate debt.
“Huron did an exceptional job on behalf of FuelCell throughout the restructuring and their efforts toward our stronger future is appreciated," said Jason Few, President and Chief Executive Officer, FuelCell Energy, Inc. "Huron engaged at a difficult time in the Company’s history and has completed its role successfully positioning FuelCell Energy in a much stronger position just four months after the initial engagement.”
The Company will continue delivering world class differentiated clean continuous power, the work of revitalizing FuelCell Energy, its overall operational effectiveness, enhanced commercial activity, geographic expansion and improving financial results.